FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 30 institutional desks. No promotion.
The Monetary Authority of Singapore is the central bank and integrated financial regulator of Singapore. Uniquely among major central banks, MAS conducts monetary policy by managing the trade-weighted Singapore-dollar nominal effective exchange rate (S$NEER) within an undisclosed policy band; settings on the slope, width, and centre of the band are reviewed quarterly.
Policy decisions are announced on the dates above. Source: official central bank schedules.
SGD 2026 consensus
1.28
median of 3 banks
Next macro event
GDP Growth Rate QoQ (Q2)
| CPI YoY (Jun) |
| SG |
| Med |
| — |
| 1.8% |
| Core CPI YoY (Jun) | SG | Med | — | 1.4% |
5 most-recent items prefer LLM synthesis where available
The desk interprets the recent commentary by Petra Tschudin and Thomas Moser on the cashless payments market as a pivotal moment for the Swiss National Bank's (SNB) approach to digital currencies.…
The desk anticipates that the Monetary Authority of Singapore (MAS) may consider further easing in October, driven by recent trends in inflation and export performance. Per the full note from MUFG…
The desk emphasizes the potential disruption stemming from a threatened U.S. government shutdown as outlined in UBS's commentary. With budget negotiations failing under the influence of prominent…
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Reports referencing MAS across covered research desks
Monetary Authority of Singapore (MAS) announces policy decisions on its published schedule. Because Monetary Authority of Singapore sets monetary policy for the SGD, its rate decisions and forward guidance are among the most important scheduled catalysts for SGD exchange rates, and sell-side FX desks reposition their SGD forecasts around each meeting. FX Bank Forecast tracks how the major investment banks' SGD targets shift before and after MAS decisions, so you can see whether the consensus is moving with the policy path or diverging from it. Watching the cross-bank reaction to each meeting is often a more durable signal than any single house call.
Monetary Authority of Singapore's policy lean is read from its most recent decisions and guidance. A more hawkish stance — biased toward higher-for-longer rates — tends to be supportive of the SGD, while a dovish, easing-biased stance tends to weigh on it, though the market reaction always depends on what was already priced in. What matters for SGD forecasting is less the stance in isolation than how it compares with what investment banks expected and how it shifts the projected rate path. FX Bank Forecast aggregates how 30 major banks read the MAS path and translates it into where the SGD consensus and its dispersion sit.
Monetary-policy expectations are one of the dominant drivers of currency moves, so Monetary Authority of Singapore's decisions — and, just as importantly, how they compare with other central banks — feed directly into where strategists set their SGD targets. Relative policy paths (the MAS versus the Fed and other majors), the pace of cuts or hikes, and the tone of guidance are the channels through which MAS actions transmit into the SGD. FX Bank Forecast compares the published SGD forecasts of 30 major investment banks side by side and shows how that consensus — and the spread of views around it — shifts as the MAS outlook evolves.